Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, today welcomed more than 430 new employees to St. Petersburg, Florida, as part of its ground breaking agreement with Transamerica to transform the administration of its U.S. insurance and annuity business lines.

TCS will occupy several floors of Transamerica's building at 570 Carillon Parkway in St. Petersburg, as part of a multi-year agreement with Transamerica to rapidly enhance its digital capabilities, simplify the service of more than 10 million policies into an integrated modern platform, and drive growth opportunities through superior customer service. More than 430 former Transamerica employees now work for TCS at this new St. Petersburg facility, as part of TCS recruiting and investing in more than 2,200 Transamerica jobs across the U.S. in multiple locations.

"We are excited to welcome more than 430 Floridians to our workforce and new office building in St. Petersburg as we continue to invest in the best local talent and increase our presence across the great state of Florida," said Suresh Muthuswami, President and Global Head, Banking, Financial Services and Insurance Platforms, TCS. "TCS is a leading industry employer in the U.S., striving to help American companies like Transamerica to digitally transform their business and capitalize on rapidly evolving customer demands. We look forward to partnering with St.  Petersburg's city, state and local organizations to further build upon our business and community impact."

Shares of the company declined Rs 9.5, or 0.27%, to trade at Rs 3,498.55. The total volume of shares traded was 29,365 at the BSE (3.07 p.m., Wednesday).